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Raketa shared details of entering foreign markets: Cyprus will be the first

Raketa shared details about entering foreign markets. Photo: UNIAN

Raketa shared details about entering foreign markets. Photo: UNIAN

The first country to enter the market of that mar Ukrainian food delivery service Raketa will be Cyprus. The Page was told about this in the press service of the service.

Quote"The rest of the countries are still at the stage of extensive preparation and we are not revealing them. In 2021, we plan to launch in ten countries, and all of them will be European," the press service said.

Cooperation with Raketa restaurants and competition with other services

The service noted that they have preliminary agreements with restaurants, as well as a local team that will be responsible for expanding coverage. They plan to cooperate with restaurants of global chains and local players.

Regarding competition in foreign markets, Raketa's entry strategy will be different depending on the market of each country.

"For example, there are markets that are already 'mature', where there is a monopoly player with 80-90% of the market share. There are emerging markets where you need to act quickly and aggressively," the service said, adding that they will try the best practices that have become "a bomb" in Ukraine in different markets, but they will use an individual approach based on the experience already gained in every country.

The delivery service also said that there are differences in foreign markets, in comparison with Ukraine, and sometimes they are fundamental.

Quote"For example, market maturity, people's eating/not eating at home habits, religious beliefs, weather conditions, trade unions and legal subtleties can be the difference. In order to better understand the local mentality, we conducted research together with PWC. This, of course, is not a 100% guarantee of success, but we estimate our chances as very high," Raketa concluded.

Context. The plans of the service to enter foreign markets became known in September 2020. Thus, the founders of the food delivery service Stanislav Dmytryk and Oleksiy Yukhymchuk stated in an interview with the Association of Retailers that entering foreign markets will be one of the strategic tasks of the service for the next two years.

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